BUD

BUD claims to be the world's largest open metaverse platform with millions of users. It provides mobile-native tools for users to create 3D characters, virtual assets, and experiences, including hangout spaces, battle royale games, and virtual weddings, without the requirement of coding skills. Users can also customize their avatars with different outfits, hairstyles, and accessories. In October 2022, the company launched an NFT marketplace, with users being able to mint NFTs through a drag-and-drop interface. Further, the platform’s “giveaway” feature allows creators to airdrop NFTs in their communities.

As of January 2024, over 15 million custom experiences had been created on the platform, with virtual assets such as costumes and accessories for characters exchanging hands more than 150 million times on its marketplace.

The company generates revenue through a monthly subscription priced at USD 5, which offers users in-game perks through sales of in-game currency (priced at USD 1–50).

Key customers and partnerships

As of January 2024, the platform had over nine million creators, with over 10 million downloads on the Google Play Store.

In December 2022, the company partnered with RIHOAS to create a virtual world “RIHOAS LAND” and launch a collection of RIHOAS virtual clothing. Other partnerships included that with VETRESKA and headphone brand 1MORE to issue three exclusive collections of NFTs for them.

Funding and financials

In its most recent funding round (May 2022), BUD raised USD 37 million in Series B funding led by Sequoia Capital India. Funds were earmarked for headcount expansion and platform development.